Banking needs global agreement and rules April 25, 2010 THE INTERNATIONAL Monetary Fund’s recent report on how the financial sector could make “a fair and substantial contribution” towards the cost of any future bailouts surprised many commentators by outlining two new levies, rather than the one expected. The “Financial Stability Contribution” is essentially a flat rate bank levy on balance sheets, specifically their liabilities, [...]
Compass sees a strong 2010 as sales surge March 31, 2010 COMPASS Group, the world’s biggest caterer, reported an upturn in trading as new business wins showed its recession-proof credentials, pushing its shares to their highest level in almost nine years. The group, which feeds office workers, soldiers and school children, said organic revenue grew 1.5 per cent in the quarter to 31 March compared with [...]
Ministry of Justice to quit London March 24, 2010 DARLING will shift a staggering 15,000 civil servants out of the capital in a massive cost cutting drive. The news will further stoke the fires burning at the heart of the government over pay caps for the public sector workers, set at just one per cent – effectively a pay cut as inflation is double [...]
Reforms required to make India world class March 21, 2010 CITYA.M. readers struggling with the end of the UK winter won’t want to hear I am in India. My business on your behalf is strengthening ties with India’s financial services community, but the hot topic with locals on the street is the Indian Premier League. The remarkable success of this cricket tournament, which only got [...]
WHAT DO ANALYSTS THINK OF BREWER MARSTON’S FIGURES? April 7, 2010 PAUL HICKMAN | KCB PEEL HUNT We believe that Marston’s is among those companies likely to benefit from the World Cup. Management estimates that every England match is worth £0.25m in turnover, and the tenancies, with their high concentration of community locations, should pull in extra business. But it would be imprudent to upgrade ahead [...]
WHAT THE OTHER PAPERS SAY THIS MORNING June 2, 2010 FINANCIAL TIMES ROLLS-ROYCE SPIRITS BUOYED BY GHOST Rolls-Royce says it will at least double its sales this year, thanks to the launch of its new Ghost model and a resurgance in demand for its high-priced cars around the world. Sales of the BMW-owned brand’s cars in China, where Rolls-Royce has seven dealerships, will for the [...]
Red tape will hit property investors March 30, 2010 HERE is another reason to be downbeat about the housing market. Buy-to-let investors are being hit by yet more red tape from 6 April; with many already licking their wounds from the slide in house prices, landlords may eventually come to the conclusion that it just isn’t worth the hassle any more to invest in [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 27, 2010 FINANCIAL TIMES COMMODITIES SURGE AFTER WARNING ON HURRICANE SEASON Oil and natural gas prices surged on Thursday as the US government said this year’s hurricane season could rank among the most active to date, comparable to years that brought such devastating storms as 2005’s Katrina and Rita. The outlook raises the possibility of damage to [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 27, 2010 FINANCIAL TIMES COMMODITIES SURGE AFTER WARNING ON HURRICANE SEASON Oil and natural gas prices surged on Thursday as the US government said this year’s hurricane season could rank among the most active to date, comparable to years that brought such devastating storms as 2005’s Katrina and Rita. The outlook raises the possibility of damage to [...]
African Barrick offer closes March 18, 2010 THE world’s largest gold producer Barrick Gold came to the end of its book-building process yesterday for the imminent London share listing of its African subsidiary African Barrick Gold. Market sources said shares in African Barrick would be priced within the 550-650p range, valuing the company at a little more than £2bn. Some have suggested [...]